BIVF et al. back CHF 25m round for T3 Pharmaceuticals
Existing investors Boehringer Ingelheim Venture Fund (BIVF), Reference Capital, multi-family office Wille Finance and several private investors have backed a CHF 25m round for cancer therapy developer T3 Pharmaceuticals.
T3 plans to use the fresh capital to support the progression of its main clinical candidate, T3P-Y058-739, through clinical studies. Its phase-I and phase-II studies in solid tumours are expected to begin in early 2021, according to a statement.
BIVF is the venture fund of the Boehringer Ingelheim foundation. The firm invest up to €3m in early-stage rounds and invests up to €15m per company, or up to €7.5m for digital health businesses.
Previous funding
In September 2019, BIVF and Switzerland-based Reference Capital invested CHF 12m in T3's series-A round.
Company
Based in Basel, T3 focuses on the development of a bacteria-based protein delivery platform in the field of immuno-oncology, aiming to develop a therapy to treat cancerous tumours. Founded in 2015, the company has 10 employees, according to LinkedIn.
People
T3 Pharmaceuticals – Simon Ittig (CEO).
Boehringer Ingelheim Venture Fund – Frank Kalkbrenner (global head).
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